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608 Alpine Way Lavon, TX 75166

3 Beds 2 Baths 1,917 sqft Built 2020

$327,900

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $171.05
  • 3 Days on Market
  • MLS # : 14475203
  • Updated Date : 11/20/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,917 sqft
  • Baths : 2 full
Listing Agent

Pacesetter Homes

Listing Agent's Description

MLS# 14475203 - Built by Pacesetter Homes - January completion! ~ Pacesetter Homes popular Coppell Floor plan with the 3 car tandem garage, Large over sized corner lot, optional expanded back covered porch. Luxury Vinyl Plank flooring throughout the living area. High end finish throughout this best selling floor plan!!!

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MARKET HIGHLIGHTS

  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)

PRICE & RENT TRENDS

Zip Code: 75166

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 75166

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Phyliss Nesmith Elementary School Primary Regular 469 26 7
Edge Middle School Middle Regular 441 26 4
Community High School High Regular 507 39 6

Phyliss Nesmith Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 26
7
GreatSchools Rating

Edge Middle School

  • Education Level: Middle
  • # of students: 441
  • # of teachers: 26
4
GreatSchools Rating

Community High School

  • Education Level: High
  • # of students: 507
  • # of teachers: 39
6
GreatSchools Rating
 

$295,110$360,690$327,900

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,210
Property Tax -$629
Property Insurance -$138
HOA -$53
Property Management Fees -$99
CASH FLOW
-$419

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$327,900

PROJECTED PRICE

$1,710

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,894

INVESTMENT

$88,894

Down Payment
$81,975
Rehab Estimate
$2,000
Closing Costs
$4,919

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,975
Loan Amount $245,925
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$149

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,710

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,730

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7004$1,7105$1,850
$1,850
RENT COMPS ANALYSIS
  • 608 Alpine Way Lavon, TX 4
    • 3 beds 2 baths ∙ 1,917 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,917 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.89
    •  
  • 498 Eisenhower Lane Lavon, TX 1
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2007
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 420 Windmill Drive Lavon, TX 2
    • 3 beds 2 baths ∙ 1,999 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,999 Sqft ∙ Built 2002
    LEASED 06/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.85
    •  
  • 536 Lincoln Avenue Lavon, TX 3
    • 4 beds 2 baths ∙ 1,768 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,768 Sqft ∙ Built 2006
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
  • 266 Houston Street Lavon, TX 5
    • 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2007
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
PROPERTY LISTING DETAILS
Dennis Ciani
Pacesetter Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475203
Last Updated: 11/20/2020
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